Cash flow before capital changes in the amount of EUR 325.7 million remained almost unchanged compared to the first quarter of the business year 2013/14 (EUR 332.6 million). Taking the change in working capital into consideration, cash flows from operating activities amounted to EUR 230.2 million in comparison to EUR 198.2 million in the first quarter of the preceding year; this represents an improvement of about 15%. After the deduction of EUR 235.5 million in cash flows from investing activities and taking into account cash flows from financing activities amounting to EUR –68.7 million (mainly the repayment of borrowed funds), the resulting change in cash and cash equivalents (without net exchange differences) amounts to EUR –74.0 million.